North Carolina XCEL Testing Life &
Health Insurance Exam Study
A father who dies within 3 years after buying a lifestyles insurance policy on his little one
daughter may have the policy charges waived under which provision? - ANS-Payor provision
A institution-owned insurance employer this is fashioned to assume and unfold the legal
responsibility risks of its contributors is referred to as a: - ANS-hazard retention institution
A existence insurance association which circumvents insurable hobby statutes is known as: -
ANS-Investor-Originated Life Insurance
A life coverage policy could be taken into consideration a wagering agreement WITHOUT: -
ANS-insurable hobby
A Limited-Pay Life coverage has: - ANS-top class payments restricted to a specific range of
years
A nonprofit integrated society that doesn't have capital inventory and operates for the sole
benefit of its participants is known as: - ANS-a fraternal benefit society
A individual is needed to be AT LEAST how old before he or she is certified as an agent in
North Carolina? - ANS-18
A health practitioner opens up a brand new practice and qualifies for a $7,000/month
Disability Income policy. What rider might the medical doctor add if he wants the potential to
growth his coverage advantage as his exercise and profits grow? - ANS-Guaranteed
Insurability Option rider
A policy of adhesion can handiest be modified by means of whom? - ANS-The coverage
business enterprise
A policyowner is able to pick out the frequency of premium bills via what coverage function?
- ANS-Premium Mode
A policyowner would like to trade the beneficiary on an Accidental Death and
Dismemberment (AD&D) insurance coverage and make the exchange everlasting. Which
form of designation might satisfy this need? - ANS-Irrevocable
A pay as you go application for person Disability Income insurance become lately submitted
to an insurer. When the insurer acquired the Medical Information Bureau (MIB) report, the
record showed that the applicant had suffered a stroke 18 months ago, something that
changed into now not disclosed at the software. Which of the following actions would the
, insurance company NOT take? - ANS-Send a note to the MIB that the applicant became
declined
A Return of Premium lifestyles coverage coverage is: - ANS-Whole existence and Increasing
term
A trustee-to-trustee switch of rollover price range in a qualified plan allows a player to keep
away from: - ANS-obligatory income tax withholding on the transfer quantity
A vacancy that occurs at some stage in the North Carolina Commissioner of Insurance's
time period of office MUST be stuffed with the aid of the - ANS-Governor
A entire life insurance policyowner does now not desire to continue making top class bills.
Which of the subsequent permits the policyowner to promote the policy for more than its
coins price? - ANS-Life settlement settlement
A written settlement to offer a Life Insurance Policy holder immediately cash in trade for the
sale and transfer of a Life Insurance Policy is a - ANS-Viatical Settlement
According to the Affordable Care Act (ACA), a based child's eligibility fame is decided by
way of: - ANS-age
According to the Time Payment of Claims provision, the insurer should pay Disability Income
benefits no much less frequently than which of the subsequent alternatives? - ANS-Monthly
All of the subsequent moves are considered rebating EXCEPT - ANS-sharing commissions
with other certified and appointed agents
All of the following are taken into consideration to be typical traits describing the character of
an insurance contract, EXCEPT: - ANS-Bilateral
All of the subsequent statements are proper regarding a policy's Grace period, EXCEPT: -
ANS-Past due rates are waived
All of those are characteristics of an Adjustable Life policy, EXCEPT: - ANS-ace amount may
be adjusted using coverage dividends
All of those statements regarding Settlement Options are true, EXCEPT: - ANS-Only the
beneficiary may also choose
An agent who sells an individual existence coverage policy in North Carolina MUST deliver
to the policyowner - ANS-A Policy Summary and Buyer's Guide
An undertaking of benefits of a Health Policy: - ANS-transfers bills to a person apart from the
policyowner
An instance of fake marketing could be - ANS-An insurer exaggerating its dividends in a
magazine advertisement
Health Insurance Exam Study
A father who dies within 3 years after buying a lifestyles insurance policy on his little one
daughter may have the policy charges waived under which provision? - ANS-Payor provision
A institution-owned insurance employer this is fashioned to assume and unfold the legal
responsibility risks of its contributors is referred to as a: - ANS-hazard retention institution
A existence insurance association which circumvents insurable hobby statutes is known as: -
ANS-Investor-Originated Life Insurance
A life coverage policy could be taken into consideration a wagering agreement WITHOUT: -
ANS-insurable hobby
A Limited-Pay Life coverage has: - ANS-top class payments restricted to a specific range of
years
A nonprofit integrated society that doesn't have capital inventory and operates for the sole
benefit of its participants is known as: - ANS-a fraternal benefit society
A individual is needed to be AT LEAST how old before he or she is certified as an agent in
North Carolina? - ANS-18
A health practitioner opens up a brand new practice and qualifies for a $7,000/month
Disability Income policy. What rider might the medical doctor add if he wants the potential to
growth his coverage advantage as his exercise and profits grow? - ANS-Guaranteed
Insurability Option rider
A policy of adhesion can handiest be modified by means of whom? - ANS-The coverage
business enterprise
A policyowner is able to pick out the frequency of premium bills via what coverage function?
- ANS-Premium Mode
A policyowner would like to trade the beneficiary on an Accidental Death and
Dismemberment (AD&D) insurance coverage and make the exchange everlasting. Which
form of designation might satisfy this need? - ANS-Irrevocable
A pay as you go application for person Disability Income insurance become lately submitted
to an insurer. When the insurer acquired the Medical Information Bureau (MIB) report, the
record showed that the applicant had suffered a stroke 18 months ago, something that
changed into now not disclosed at the software. Which of the following actions would the
, insurance company NOT take? - ANS-Send a note to the MIB that the applicant became
declined
A Return of Premium lifestyles coverage coverage is: - ANS-Whole existence and Increasing
term
A trustee-to-trustee switch of rollover price range in a qualified plan allows a player to keep
away from: - ANS-obligatory income tax withholding on the transfer quantity
A vacancy that occurs at some stage in the North Carolina Commissioner of Insurance's
time period of office MUST be stuffed with the aid of the - ANS-Governor
A entire life insurance policyowner does now not desire to continue making top class bills.
Which of the subsequent permits the policyowner to promote the policy for more than its
coins price? - ANS-Life settlement settlement
A written settlement to offer a Life Insurance Policy holder immediately cash in trade for the
sale and transfer of a Life Insurance Policy is a - ANS-Viatical Settlement
According to the Affordable Care Act (ACA), a based child's eligibility fame is decided by
way of: - ANS-age
According to the Time Payment of Claims provision, the insurer should pay Disability Income
benefits no much less frequently than which of the subsequent alternatives? - ANS-Monthly
All of the subsequent moves are considered rebating EXCEPT - ANS-sharing commissions
with other certified and appointed agents
All of the following are taken into consideration to be typical traits describing the character of
an insurance contract, EXCEPT: - ANS-Bilateral
All of the subsequent statements are proper regarding a policy's Grace period, EXCEPT: -
ANS-Past due rates are waived
All of those are characteristics of an Adjustable Life policy, EXCEPT: - ANS-ace amount may
be adjusted using coverage dividends
All of those statements regarding Settlement Options are true, EXCEPT: - ANS-Only the
beneficiary may also choose
An agent who sells an individual existence coverage policy in North Carolina MUST deliver
to the policyowner - ANS-A Policy Summary and Buyer's Guide
An undertaking of benefits of a Health Policy: - ANS-transfers bills to a person apart from the
policyowner
An instance of fake marketing could be - ANS-An insurer exaggerating its dividends in a
magazine advertisement
